A Dollar A Day

Today in class we watched videos on how people in very poor countries spend about one dollar per day for all their needs. Now imagine doing that now? It is possible because you can buy in bulk for seven dollars and have it last through the week, but many people spend about 7 dollars, if not much more just in the morning. You have to shower, eat, brush your teeth, and drive in your car using gas. All these things all up to may more than one dollar. These college students went to a poor country and tried to live the way the poor people live, and it was very hard. I respect these men for doing this because it made me realize how lucky I am to be able to afford a nice house, a good education, all three meals that are nourishing, and a car to transport me to places. This makes me want to find out other ways to help these people because it is not fair that they have to suffer their whole life while I am doing just fine. I hate the idea that little children are living in great poverty with no healthy foods really getting into their system.

Stocks!!!

Today we did something very fun! Recently we have been taking notes and quizzes and midterms and all the hard, boring stuff...so it was a relief to do something fun today. We had to make an account on Marketwatch.com and trade stocks. Earlier, someone from my class told me that I was in the lead, so thats a pretty good thing :p. But I would much rather trade stocks and see how much money I can make, than take notes and hard quizzes.  How about anyone else??

Quiz I missed and Quiz I took today

Last Friday I was absent so I wasn't able to take the quiz that we had on demand. I ended up taking it yesterday but the weird thing was that I was confused yesterday because the supply and demand were getting confused in my head. But today, putting the two together helped me!!! I remembered that on a supply curve, if the line moves up its actually a decrease and if the line moves down its an increase. I was confused on my demand quiz (thankfully I still understood it) but now its like the heavens have opened and I understand! :D

Total Revenue = Piece of Cake!

Before this week when seeing this problem, "In 2013, Barbies sold for $12.99. That year 400 Barbies were sold. In 2012, the price of a Barbie was $14.99 and 375 were sold. Should the sellers of Barbies increase their prices or decrease their prices to make more money?" would have made me want to cry. I would not have known what to do at all and I would just have sat there and looked at it, then probably walked away. But after Mrs. Weser explaining things and broke it down into easier steps, it was a piece of cake! We have a quiz tomorrow and everyone should do great on it because we have learned everything, and hopefully you all studied!!

Yet another week affected by snow...but a fun project!

Well, this week was cut short because of 2 snow days! In March...snow days...wow okay. But anyways we are starting to something really exciting the rest of this week and next week! The Weserville Board of Tourism has been created. Each board member will take on a team to create an ad campaign to increase demand for Weserville. In your campaigns, one or more of the 6 factors that can change demand should be evident.
We must pick at least one of these 6 factors:

1. Income

2. Market size

3. Consumer tastes

4.Consumer expectations

5. Substitute Goods

6.  Complementary Goods

I believe that this will be a very fun way to learn about the factors...and also to get Weserville a more popular place! Lets see who can be most creative in these three categories: 30 second Radio commercial, 30 second TV commercial, and ½ page Newspaper Ad. Good luck to everyone, but I know team 2 will do the best! :P

Government Involvement!

Well, a couple weeks ago we learned about the circular flow model. The circular flow model contains the terms of income or "circular flow" to a simple economic model which describes the reciprocal circulation of income between producers and consumers. This week, we included the government with the circular flow model! It expands the circular flow model by illustrating how taxes are used in the system. It shows the government interacting with the households and businesses collecting taxes then giving back back to each. The product market gives the government products, in return for money. Also, the factor market also gives the government factors in exchange for money. I think it is very helpful that we learned the involvement of the government within the households, businesses, and  factor & product markets.  If we live in America, we should know the involvement of government in society and that is exactly what Mrs. Weser taught us!!!

Wal-Mart...good or bad!?

People have completely different views about Wal-Mart. Weserville is debating on bringing in a Wal-Mart to the town. Yes, it will bring in jobs and help lower unemployment rate. But also, Wal-Mart treats their workers so unfair, and the way the products are made is horrible because the Chinese that make them get paid less than $1 for their labor. But in America, the poor/poverty rate is so high. Big chain stores like Wal-Mart allow people to shop for necessities that they maybe could not afford in private businesses because of higher prices. Yes, it is so sad that the way the workers are being treated is bad, but the amount of people that benefit from Wal-Mart surpasses the amount of people that are not benefiting. It is sad that not everyone can be happy, but that is how America is, not everyone wins in every situation. I think that it would be a good idea for Weserville to have a Wal-Mart.

McWeser's Fast Food :)

So far this week has been pretty interesting. Weserville is accepting 3 new businesses. The class is split into groups of three and got to come up with ideas for a business to make. The group I was in came up with the idea for a new fast food restaurant. Modeled from the idea of McDonalds, McWeser's would have breakfast, lunch, and dinner. It would be quick, tasty, cheap food. It would be able to supply jobs for the unemployed, since Weserville has a pretty high unemployment rate. Also, with the skills of Weservilles people, I feel like McWeser's would be a good type of job because it is mostly working with your hands and interacting with people. This idea originated from the video we watched on McDonalds a few days ago. I saw that a small idea can go a long way and help many people out in the process. 

Marx and Smith Blog :D

This week in class, the main thing that we worked on was our scripts for when Karl Marx and Adam Smith meet and have conversations. This was my favorite thing we've done so far, because it was actually interesting and I learned a lot more about communism (because I was Marx) because I had to be him and I had to understand the government to some extent of how he did. I liked that we had to read it in front of the class, because then it actually made me work hard because I didn't want look like a fool if I didn't understand it. I liked that we had to coordinate a few other countries in our script, because then I got to see how the capitalist and communist government worked in each of the countries, and if they were effective of not.

yo lizzie

hi lizzie